The Communications Workers of America on Thursday said it planned to appeal the Federal Communications Commission’s stamp of approval on T-Mobile’s takeover of Sprint, calling the agency’s October decision to back the deal “arbitrary,” “capricious” and “an abuse of discretion.”
A Fitbit investor sued the athletic technology company and its board on Friday in Delaware federal court, claiming they tried to mislead investors about the financial analyses associated with Fitbit's recently announced plan to sell itself to Google for $2.1 billion.
A Carbonite Inc. investor filed a proposed securities class action Thursday seeking to halt the cloud computing business' $1.42 billion merger with an OpenText Corp. subsidiary, saying the companies need to back up the rosy financial picture they touted to shareholders.
Ten state attorneys general, all Democrats, entered the challenge to T-Mobile’s purchase of Sprint. Now, after months of ebb and flow that included the addition of a single Republican AG, the number stands at 14 and no longer includes that sole claim to bipartisanship. Here, Law360 takes a look at the states that have joined the challenge and the ones that have left.
With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days helmed by firms such as Fried Frank and Hogan Lovells. Here, Law360 recaps the ones you might have missed.
The United Kingdom's competition watchdog gave the go-ahead Friday to a Belgian playing card company's plans to snap up the American maker of the popular Bicycle brand of cards, greenlighting the deal without conditions.
Philadelphia’s bankrupt Center City Healthcare LLC declared dead on arrival Friday an emergency motion by former St. Christopher's Hospital medical professionals for a Delaware court ruling that the hospital’s Chapter 11 sale requires an extension of medical liability coverage for doctors cut from the staff.
Sen. Bernie Sanders' presidential campaign released a plan Friday to take the internet "out of the hands of monopolies and conglomerates and bring it to the people," including by breaking up big service providers like Comcast, AT&T and Verizon.
The U.K.’s competition watchdog said Stonegate Pub Company’s £1.27 billion ($1.42 billion) buy of rival pub operator Ei Group could be bad news for consumers in about 50 local areas, giving the companies a week to find a solution.
In this week's Taxation With Representation, Japan's Astellas Pharma shells out $3 billion for a California drugmaker, Revelstoke Capital Partners raises $1.4 billion for health care investments, and AK Steel is acquired in a $1.1 billion deal.
The U.S. Supreme Court agreed Friday to review Delaware's appeal of a lower court ruling that overturned the state's 122-year-old major party membership and balance requirements for members of its three top courts.
U.K. life insurer Phoenix Group announced plans Friday to buy a rival subsidiary of Swiss Re for £3.2 billion ($4.2 billion) in a cash and stock.
In a potentially unprecedented ruling, a Delaware vice chancellor late Wednesday found that a stockholder group pursuing a derivative suit over Oracle's $9.3 billion purchase of NetSuite Inc. should get substantial access to documents gathered by the company's own special litigation committee.
T-Mobile and Sprint Corp. go to trial Monday in New York to defend their megamerger, as Democratic attorneys general pursue a rare, direct challenge to their federal peers in a case that will test the strength of U.S. wireless competition and the importance of fostering next-generation technology.
A coalition of states petitioned a Manhattan federal judge Thursday to allow the public to see corporate emails discussing how to get approval from a senior government official, ahead of a blockbuster antitrust trial over the Sprint-T-Mobile merger that starts Monday.
The French owner of Gucci is interested in buying multibillion-dollar apparel maker Moncerl, a Canadian billionaire is leading a group that hopes to buy a major stake in Aston Martin, and Thai Beverage aims to raise $3 billion through an IPO of some regional beer assets. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.
The U.K.'s competition authority said Thursday that Bauer Media UK's recent string of deals for local radio stations could hurt the viability of a company that provides critical advertising services to independent stations and may need to be at least partially unwound.
A Delaware bankruptcy judge approved real estate venture RAIT Financial Trust’s $174 million Chapter 11 sale to Fortress Investment Group on Thursday over objections from equity holders calling for a denial or delay to allow pursuit of a different tentative restructuring support offer.
Private equity firm Motive Partners and investor Cannae Holdings will take on a majority stake in Fiserv’s investment services arm in a deal steered by Kirkland & Ellis LLP, Motive Partners said Thursday.
State-backed oil giant Saudi Aramco raised $25.6 billion on Thursday in the world's largest initial public offering after pricing its shares at peak range, in a deal guided by four law firms including company counsel White & Case LLP and underwriters' counsel Latham & Watkins LLP.
Revelstoke Capital Partners, a Denver-based private equity firm focused on health care, said Thursday that it has clinched two investment vehicles totaling almost $1.4 billion and inked the acquisition of Upstream Rehabilitation, with help from Simpson Thacher and Winston & Strawn.
Tutor Perini Corp. was ordered Wednesday to pay $8 million to the former owners of its acquisition Greenstar Services Corp. in the latest installment of a Delaware Chancery Court payment saga dating to the companies' 2011 tie-up.
Bankrupt coal producer Murray Energy Corp. filed proposed bidding procedures Wednesday in Ohio court that contemplate a $1.7 billion stalking horse offer from its senior term loan lenders, a day after it submitted its Chapter 11 plan proposal.
Hedge fund billionaire Steve Cohen is set to purchase an 80% stake in the New York Mets in a deal that reportedly values the team at $2.6 billion and comes at a pivotal moment for the team.
Barnes & Noble Education said Wednesday it secured board approval to hire a financial adviser to lead a strategic review of the company's potential opportunities, after fielding "a number of unsolicited inquiries."
M&A activity has adjusted slightly in response to the 2017 tax overhaul's elimination of net operating loss deductions, new tax rules for foreign earnings, and future allocation of interest expense deductions, but fallout has been smaller than expected, say Alexander Lee and Eric Schwartzman in this brief video.
While federal rules require production of electronically stored information in its native format or a "reasonably useful form," recent court rulings offer guidance on avoiding production of ESI in its native format when it would be unduly burdensome, say Matthew Hamilton and Donna Fisher at Pepper Hamilton.
Joint initiatives by companies active in the same industry are much needed to tackle major challenges like sustainability and digital transformation, but such partnerships may require special exemptions from international antitrust authorities, says Tilman Kuhn of White & Case.
The Federal Circuit's recent decision in IPR Licensing overruled precedent to hold that the cross-appeal rule is not jurisdictional, demonstrating the complexity of this seemingly simple rule and its various applications within the circuit courts, says Michael Soyfer at Quinn Emanuel.
Recent changes to the Business Roundtable’s manifesto are short on specifics and falsely suggest that corporations can somehow achieve success for stakeholders without negatively impacting others, says Herschel Joseph at Gould & Ratner.
As recent S&P data shows an increase in distressed assets, investors may find it preferable to undertake certain M&A transactions by working within, rather than running from, the unique opportunities afforded by the Chapter 11 process, say Aaron Rigby and Charles Persons of Sidley.
The provocative new book by Alec Karakatsanis, "Usual Cruelty: The Complicity of Lawyers in the Criminal Injustice System," shines a searing light on the anachronism that is the American criminal justice system, says Sixth Circuit Judge Bernice Donald.
In light of continuously evolving cyber threats and the growing body of privacy and data protection regulations, cybersecurity due diligence has become an essential part of evaluating and structuring mergers and acquisitions, and attention to it may become a competitive advantage, say Corby Baumann of Thompson Hine and Bret Cohen of Tier 1 Cyber.
The Delaware Chancery Court’s recent decision in Dieckman v. Regency that a merger did not satisfy the required safe harbors, but did not necessarily breach good faith requirements, suggests general partners in master limited partnerships may face greater liability in approving conflicted transactions, say attorneys at Fried Frank.
Recently proposed rule amendments from the U.S. Securities and Exchange Commission could overhaul the proxy process by making it harder for proxy advisory firms to issue voting recommendations, and by changing the requirements for shareholders submitting proposals, say attorneys at V&E.
If passed, Sen. Elizabeth Warren's private equity reform bill would protect companies being purchased by private equity, but impose significant restrictions on funds by eliminating the liability shield and favorable tax treatment they currently enjoy, say Jon Brose and Kevin Neubauer at Seward & Kissel.
Although lateral partner hiring is the preferred method of inorganic growth among law firms, the traditional approach to vetting does not employ sufficient due diligence by the hiring firm, says Michael Ellenhorn at executive search firm Decipher Competitive Intelligence.
Recently announced U.S. tariffs against a range of European products are just the latest negative consequence of a 15-year trade dispute centering on subsidies to Boeing and Airbus — a conflict that has proven disastrous for all involved, says Alan Hoffman, a retired attorney and private pilot.
As Texas and other states review their judicial election processes, they would be well served by taking guidance from Massachusetts' Governor’s Council system, which protects the judiciary from the hazards of campaigning, says Richard Baker of New England Intellectual Property.
Reading Jeffrey Rosen’s "Conversations With RBG: Ruth Bader Ginsburg on Life, Love, Liberty, and Law" is like eavesdropping on the author and his subject while they discuss how the restrained judicial minimalist became the fiery leader of the opposition, says Ninth Circuit Judge M. Margaret McKeown.